(WPRI) – After months of merger analysis, The American Medical Association says it is urging regulators to block the CVS-Aetna merger.
The AMA’s president outlined the reasons for the organization’s opposition while testifying at a hearing at the California Department of Insurance Tuesday. The AMA’s concern is that the merger would have anti-competitive effects on Medicare Part D, pharmacy services, and health insurance. The potential negative consequences for health care access is quality, and affordability.
This is a $69 billion deal for Woonsocket-based CVS Health to acquire insurance company Aetna.
Back when the deal was announced, the companies called it a, “Natural evolution for both companies as they seek to put the consumer at the center of health care delivery.”
According to Forbes, CVS released a statement yesterday reading, “This combination does not further concentrate the health care sector; instead it reconfigures it to bring together desperate parts of the health care system that today lead to inefficient, ineffective and more costly care.”
